Utah § 41-12a-407 Certificate of self-funded coverage as proof of owner's or operator's security.

Utah Statutes

§ 41-12a-407 — Certificate of self-funded coverage as proof of owner's or operator's security.

Utah·Title 41 Motor Vehicles·Ch. 41-12a Financial Responsibility of Motor Vehicle Owners and Operators Act·Part 41-12a-4 Proof of Owner's or Operator's Security

(1)The department may, upon the application of any person, issue a certificate of self-funded coverage when it is satisfied that the person has:

(1)(a) more than 24 motor vehicles; and

(1)(b) deposits, in a form approved by the department, securities in an amount of $200,000 plus $100 for each motor vehicle up to and including 1,000 motor vehicles and $50 for every motor vehicle over 1,000 motor vehicles.

(2)Persons holding a certificate of self-funded coverage under this chapter shall pay benefits to persons injured from the self-funded person's operation, maintenance, and use of motor vehicles as would an insurer issuing a policy to the self-funded person containing the coverages under Section 31A-22-302.

(3)In accordance with Title 63G, Chapter 4, Administrative Procedures Act, the

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(1) The department may, upon the application of any person, issue a certificate of self-funded coverage when it is satisfied that the person has:

(1)(a) more than 24 motor vehicles; and
(1)(b) deposits, in a form approved by the department, securities in an amount of $200,000 plus $100 for each motor vehicle up to and including 1,000 motor vehicles and $50 for every motor vehicle over 1,000 motor vehicles.
(2) Persons holding a certificate of self-funded coverage under this chapter shall pay benefits to persons injured from the self-funded person's operation, maintenance, and use of motor vehicles as would an insurer issuing a policy to the self-funded person containing the coverages under Section 31A-22-302.
(3) In accordance with Title 63G, Chapter 4, Administrative Procedures Act, the department may, upon reasonable grounds, cancel the certificate. Failure to pay any judgment up to the limit under Subsection 31A-22-304(2) within 30 days after the judgment is final is a reasonable ground to cancel the certificate.
(4) Any government entity with self-funded coverage for government-owned motor vehicles under Title 63G, Chapter 7, Governmental Immunity Act of Utah, meets the requirements of this section.

Utah § 41-12a-407 (Certificate of self-funded coverage as proof of owner's or operator's security.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.